Brief: BRIEF-Romania's BRD bank nine-month net profit jumps 76 pct y/y

BRD Groupe Societe Generale SA

03/11/2017 08:43

BUCHAREST, Nov 3 (Reuters) - Romanian lender BRD Groupe 
Societe Generale  ROBRD.BX  
    * Says records net profit of 1.066 billion lei ($270.30 
million) 
in the first nine months, 76 percent up on the year, fuelled by 
both dynamic commercial activity and improved risk profile. 
    * Says BRD Group continued to record very strong 
profitability, 
leading to a return on equity of 20.5 percent compared to 12.5 
percent in the corresponding period of last year. 
    * Says asset quality continued to improve, as shown by the 
lower 
non-performinl loans (NPL) ratio, of 7.8 percent at September 
2017 end versus 10.8 at September 2016 end. 
    * BRD Group's net banking income amounted to 2,061 million 
lei, 
accelerating +3.4 percent on the year, excluding  non-recurring 
elements (gains on available for sale assets and VISA Europe 
transaction in 9-month 2016, which totalled 127 million lei, and 
gains on available-for sale assets of 9 million lei in the first 
nine months of 2017). 
    * Says BRD maintained a comfortable capital adequacy ratio 
of 18.5 
percent as of September 2017 end (individual level, under Basel 
3 regulations with national discretions), stable from the end of 
September 2016.   
 
    
Further company coverage: ROBRD.BX 
 
($1 = 3.9437 lei) 
 
 (Bucharest Newsroom) 
 ((bucharest.newsroom@thomsonreuters.com; +40 21 305 5266)) 
 
Keywords: BRD RESULTS/